Barrick Gold (Barrick Gold) Inventory Turnover : 1.16 (As of Dec. 2023)

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What is Barrick Gold Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Barrick Gold's Cost of Goods Sold for the three months ended in Dec. 2023 was $2,139 Mil. Barrick Gold's Average Total Inventories for the quarter that ended in Dec. 2023 was $1,848 Mil. Barrick Gold's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.16.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Barrick Gold's Days Inventory for the three months ended in Dec. 2023 was 78.81.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Barrick Gold's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.60.

Barrick Gold Inventory Turnover Historical Data

The historical data trend for Barrick Gold's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Barrick Gold Inventory Turnover Chart

Barrick Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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3.34

3.56

3.93

4.27

4.45

Barrick Gold Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															1.21	1.05	1.02	1.01	1.16

Barrick Gold Inventory Turnover Calculation

Barrick Gold's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	7932	/ (	(1781	+	1782)	/	2 )
=	7932	/	1781.5
=	4.45

Barrick Gold's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	2139	/ (	(1913	+	1782)	/	2 )
=	2139	/	1847.5
=	1.16

Barrick Gold (NYSE:GOLD) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Barrick Gold's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1847.5	/	2139	*	365 / 4
	=	78.81

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Barrick Gold's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1847.5	/	3059
	=	0.60

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Barrick Gold Inventory Turnover Related Terms

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Barrick Gold (Barrick Gold) Business Description

Industry

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Traded in Other Exchanges

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Address

161 Bay Street, Brookfield Place, Suite 3700, P.O. Box 212, TD Canada Trust Tower, Toronto, ON, CAN, M5J 2S1

Website

https://www.barrick.com

Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2022, the firm produced nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper. At end 2022, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.